Precious metal" means silver, gold and platinum. "Precious metal dealer" means any natural person, partnership, or corporation, either as principal or agent engaging in the business of buying secondhand items containing precious metal, including, but not limited to jewelry, watches, eating utensils, candlesticks, and religious and decorative objects.

Dealers desiring to engage in a transact business, must be licensed for that purpose. The license fee is $50 and is valid for one year from the date of issue. The application is available from the Auditor-Treasurer's Department at 1-800-450-7463 ext. 1670 or 320-591-1670.